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5 Stocks Under $5 Making Big Moves - views
Stocks that are making large-percentage moves like these are favorites among short-term traders because they can jump into these names and try to capture some of that massive volatility. Stocks that are making big moves either up or down are usually in play because their sector is becoming attractive or they have a major fundamental catalyst like a recent earnings release. Sometimes stocks making big % moves have been hit with an analyst upgrade or an analyst upgrade.
Regardless of the reason behind it, when a stock makes a large-percentage move, it is often just the start of a new major trend -- a trend that can lead to huge profits. If you time your trade correctly, combining technical indicators with fundamental trends, discipline and sound money management, you will be well on your way to investment success.
With that in mind, let's take a closer look at several stocks under $10 that are making big moves to the upside today.
Chelsea Therapeutics (CHTP) is a development stage pharmaceutical company that focuses on acquiring, developing and commercializing products for the treatment of a variety of human diseases. This stock is trading up 63% at $3.94 in recent trading.
Today’s Range: $3.60-$4.03
52-Week Range: $2.18-$6.06
Volume: 14.3 million
Three-Month Average Volume: 1.2 million
Shares of CHTP are soaring huge today after a committee of independent experts recommended the approval of its hypotension drug in the U.S. The FDA panel voted 7 to 4 in favor of the drug’s approval on Thursday. This move will now be taken into consideration by the FDA, which is expected to vote on the drug by March 28.
From a technical perspective, CHTP is gapping up huge today on monster volume.
Market players should continue to look for long-biased trades in CHTP as long as the stock remains above $3.83 to $3.60. That $3.83 level is a near-term breakout level, and that $3.60 level is today’s low price. If CHTP can continue to trend above those key technical levels with strong volume, then this stock has a great chance to tag $4.60 (its 200-day moving average) to $4.63 (its 50-day), or possibly even higher.
Keep in mind that CHTP traded as high as $5.74 back in early December.
Pacific Ethanol (PEIX) is a marketer and producer of low-carbon renewable fuels in the Western United States. This stock is trading up 21% at $1.32 in recent trading.
Today’s Range: $1.15-$1.34
52-Week Range: $0.25-$5.74
Volume: 17.2 million
Three-Month Average Volume: 5.8 million
From a technical perspective, PEIX is quickly approaching a big breakout trade if this stock can manage to move above some near-term overhead resistance at $1.34 with high-volume. At last check, PEIX has hit a daily high of $1.34 and the volume is off the charts strong.
Traders should continue to look for long-biased trades if we get a move and close over $1.34 in the near future. If that breakout is triggered, then look for PEIX to make a run at its next significant overhead resistance levels of $1.61 to $1.85 in the near future.
pSivida (PSDV) develops drug delivery products that are administered by implantation, injection or insertion. This stock is trading up 29% at $1.51 in recent trading.
Today’s Range: $1.18-$1.55
52-Week Range: $3.50-$5.23
Three-Month Average Volume: 59,338
From a technical perspective, PSDV is now trading within range of triggering a big breakout trade if this stock can manage to take out some past overhead resistance at $1.56 with heavy volume.
Market players should look for long-biased trades if PSDV sustains a high-volume move and close back above $1.56. At last check, volume today is well above its average and the stock has touched a daily high of $1.55. If we get that action soon, then look for PSDV to make a run at $2 or possibly much higher very quickly.
Senomyx (SNMX) is focused on using taste receptor-based assays and screening technologies to discover and develop flavors, flavor enhancers and bitter blockers for the packaged food, beverage and ingredient supply companies. This stock is trading up 14% at $3.80 in recent trading.
Today’s Range: $3.36-$3.88
52-Week Range: $2.82-$7.46
Three-Month Average Volume: 132,525
From a technical perspective, SNMX is soaring back above its 50-day moving average of $3.53 today on big volume.
Traders should continue to look for long-biased trades in SNMX if this stock can manage to take out some near-term overhead resistance at $3.94 to $3.99 with heavy volume. If we get that action soon, then look for SNMX to make a run at its 200-day moving average of $4.32 or possibly back towards its October high of $5.25.
Builders FirstSource (BLDR) is a supplier and manufacturer of structural and related building products for residential new construction. This stock is trading up 6.6% to $3.19 in recent trading.
Today’s Range: $3.00-$3.23
52-Week Range: $1.01-$3.39
Three-Month Average Volume: 173,802
From a technical perspective, BLDR is now trading within range of triggering a big breakout trade if this stock can manage to take out some overhead resistance at $3.20 to $3.39 with high-volume.
Traders should watch for a sustained high-volume move and close above those levels to signal that BLDR wants to trend much higher. Look for volume on the move that’s near of well above 173,802 shares. If we get that action soon, then look for BLDR to re-test its next significant overhead resistance levels at $4.30 to around $5.
To see more stocks under-$10 that are making notable moves higher today, check out the Stocks Under-$10 Moving Higher portfolio on Stockpickr.
-- Written by Roberto Pedone in Winderemere, Fla.
At the time of publication, author had no positions in stocks mentioned.
Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on stocks, options, futures, commodities and currencies. He is also an outside contributor to Beconequity.com and maintains the website Maddmoney.net, which he sold to Blue Wave Advisors in 2008. Roberto studied International Business at The Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany.